Wendy’s closes sale of Baja Fresh chain

The restaurant operator announced Nov. 28 it sold the burrito business, consisting of 300 units in the U.S., for roughly $31 million to an unspecified West Coast restaurant operating company owned by a consortium of investment groups headed by David Kim.

Kim and his partners, Wendy’s noted, own or operate restaurant concepts such as Sweet Factory, Cinnabon and Denny’s.

The deal follows Wendy’s recent sale of its Tim Hortons restaurant chain, while the firm also pursues strategic alternatives for its Café Express and Pasta Pomodoro businesses.

Wendy’s said it has targeted a $100 million cost reduction to begin in 2007.